BiggerPockets

Right on Joe. That's a good thing. I'm assuming your putting up typical "I BUY HOUSES" signs, if so get the info from the caller and run the numbers on it.

I would tell him that you need to run the numbers and that you'll call him back with your offer.

Do you have COMPS for that neighborhood? Either way, get the address, reason for selling (just to gauge motivation), asking price, and anything he can tell you about the house.

Post your numbers back up here and I'm sure everyone would be happy to tell you what to offer the guy.

Jeff

Thanks Jeff! Yep, those were the signs I put out. Small ones too. I got 25 of the free and went to work over the weekend. I have an information sheet all ready to go, just fighting the first time jitters. You know, the ones where you have to pretend that you've done this a million times before :cool: Also, I have yet to contact a title company, which is another post to itself. Mr. Cash, to answer your question, I put 23 of them up (missing the stakes for 2) in about a 2 square mile neighborhood. Did that on Saturday/Sunday and by sunday night I got my first call (and my second call today) I will definitley put up the numbers if it looks like something I'd be interested in doing. Thanks!

Congrats, Joe! Keep up the good work. With effort comes results, as you see. Keep us posted as to your continued success.

Do you know of any homes in your area that are being rehabbed right now? If so, id stop by while the workers are there and ask if the owner is around. If you do find the owner just talk to him and see what he's doing with the property, he may be flipping it and looking for more deals.

Your local REIA is a great place too, I'd bring flyers to the next meeting.

Jeff

Do you have a mailing list for your local REIA? Sometimes there will be a website with member info, that way you don't have to wait for the next meeting.

Also, you can obviously post your deals on this site. If the deal is good enough, you may find an out of state buyer right here on BP willing to do the deal.

Craigslist would be good for responses, the problem is most of those won't be cash buyers, which you'll need.

Anyone ever wholesale to someone obtaining a mortgage? I know FHA is out because of seasoning, maybe that would be a whole other topic.

Jeff

You could share your deals here on the site in the Dealmaking forum. You've got a nice size audience to market to . . .

Hey BP community I just got my first call today from putting up bandit signs also. The house is fairly new (4 years old) and the couple has had it for only a year so its a new mortgage as well (probably not much equity) . I am gonna have to talk to the owner again to get more details but does this sound like a deal you would run from?

Wow congratulations MrCash! That's such an exciting feeling, isn't it? I got two calls, one from a guy who barely spoke english, and one from a woman who was out of my farm area. I'm still going to follow up on it some more, but I'm not sure. Keep it up man!